NELNET INC

Ticker: NNI CUSIP: 64031N108 Class: Common Stock

Phocas Financial Corp.'s Holding History (CIK: 0001356783)

Note: Option positions (PUT/CALL) are excluded.

Q3 2015

Shares 120,064 Value ($000) $4,155 Avg Close $39.38 Range $34.26 - $44.92

Q2 2015

Shares 111,969 Value ($000) $4,849 Avg Close $43.92 Range $40.81 - $48.69

Q1 2015

Shares 115,807 Value ($000) $5,480 Avg Close $46.14 Range $43.00 - $48.80

Q4 2014

Shares 96,569 Value ($000) $4,474 Avg Close $45.54 Range $42.42 - $48.52

Q3 2014

Shares 100,575 Value ($000) $4,334 Avg Close $42.91 Range $40.16 - $45.91

Q2 2014

Shares 97,587 Value ($000) $4,043 Avg Close $40.94 Range $38.42 - $44.20

Q1 2014

Shares 85,013 Value ($000) $3,477 Avg Close $39.47 Range $34.86 - $44.30

Q4 2013

Shares 91,657 Value ($000) $3,862 Avg Close $42.18 Range $38.00 - $45.49

Q3 2013

Shares 92,697 Value ($000) $3,564 Avg Close $38.64 Range $36.06 - $41.74

Q2 2013

Shares 64,877 Value ($000) $2,341 Avg Close $35.78 Range $31.56 - $39.98

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2015	120,064	$4,155	$39.38	$34.26 - $44.92
Q2 2015	111,969	$4,849	$43.92	$40.81 - $48.69
Q1 2015	115,807	$5,480	$46.14	$43.00 - $48.80
Q4 2014	96,569	$4,474	$45.54	$42.42 - $48.52
Q3 2014	100,575	$4,334	$42.91	$40.16 - $45.91
Q2 2014	97,587	$4,043	$40.94	$38.42 - $44.20
Q1 2014	85,013	$3,477	$39.47	$34.86 - $44.30
Q4 2013	91,657	$3,862	$42.18	$38.00 - $45.49
Q3 2013	92,697	$3,564	$38.64	$36.06 - $41.74
Q2 2013	64,877	$2,341	$35.78	$31.56 - $39.98